CVC Capital Partners facts for kids
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Headquarters at IFC 5 in St Helier, Jersey
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| Public | |
| Traded as | Euronext Amsterdam: CVC |
| Industry | Private equity |
| Founded | 1981 |
| Founder | Rolly van Rappard |
| Headquarters |
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Jersey
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Key people
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| Products |
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| Services |
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| AUM | €186 billion (2024) |
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Number of employees
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c. 850 (2023) |
CVC Capital Partners plc is a large company based in Jersey. It helps other businesses by investing money in them. This type of investing is called private equity. CVC also gives advice to companies.
As of 2024, CVC manages about €186 billion (that's a lot of money!). They have invested in over 100 companies around the world. These companies employ more than 450,000 people. CVC was started in 1981. Today, it has over 850 employees in 25 offices across Europe, the Middle East, Africa, Asia, and the Americas.
In 2023, CVC raised the biggest private equity fund ever globally. It was worth €26 billion. In June 2024, CVC Capital Partners was ranked as the fourth largest private equity firm in the world.
Contents
How CVC Capital Partners Started and Grew
Starting in the 1980s and 1990s
CVC began as Citicorp Venture Capital in 1981. In the early 1990s, a team led by Michael Smith worked for Citicorp in Europe. In 1993, Smith and his team decided to leave Citicorp. They formed their own independent company called CVC Capital Partners. This is called a spin-off.
In 1996, Rob Lucas joined the company. He later became a very important leader there. CVC started by investing $300 million. Half of this money came from Citicorp. The rest came from wealthy individuals and other investors. After becoming independent, CVC focused on buying and improving mature businesses. In 1996, they raised their second fund, which was fully independent, with $840 million.
Growing in the 2000s
By 2000, CVC was one of the biggest investment firms in Europe. In 2001, they raised their third investment fund. It was the largest private equity fund in Europe at that time.
In 2004, CVC teamed up with another firm, Permira. They bought a British motoring association called The AA. In 2007, they combined The AA with another company called Saga.
From 2005 to 2006, CVC slowly bought a large part of the Formula One Group. This company owns the famous Formula One car racing championship. In 2006, some people raised concerns about how CVC and Permira managed their investments in The AA. The AA said they were happy to discuss these concerns.
In 2007, CVC expanded to the United States. They opened an office in New York City.
Key Events in the 2010s
In 2012, CVC sold some of its shares in the Formula One Group. By 2013, Michael Smith retired. Steven Koltes, Donald Mackenzie, and Rolly Van Rappard became co-chairmen of the group.
In 2015, CVC and another firm faced a fine in the Netherlands. This was because a company they owned had broken rules about keeping prices stable. CVC had to pay between €450,000 and €1.5 million.
CVC made many new investments in 2015. They invested in Wireless Logic, a company that helps machines communicate. They also bought 80% of a gambling company called Sky Betting & Gaming. CVC also acquired a German perfume retailer, Douglas AG. In September 2015, CVC opened an office in Warsaw, Poland. Later that year, CVC and the Canada Pension Plan Investment Board bought an American pet supply company called Petco for about $4.6 billion.
In 2016, CVC Capital Partners acquired a German betting operator called Tipico. They also agreed to buy a 15% share in Siloam Hospitals, a large hospital chain in Indonesia. In September 2016, CVC agreed to sell most of its control of the Formula One Group to Liberty Media. This deal was worth US$4.4 billion. Liberty Media took full control of Formula One in 2017.
In 2017, CVC bought TMF Group, a Dutch company that helps businesses with rules and paperwork. This deal was worth €1.75 billion. In 2018, CVC Capital Partners bought OANDA Global Corporation. OANDA is an online platform for trading foreign money and getting financial data. Towards the end of 2019, CVC Capital Partners bought Ontic for $1.365 billion.
CVC in the 2020s
In August 2021, football clubs in Spain's La Liga approved a €2.7 billion deal. This deal involved selling 10% of the league to CVC Capital Partners. In October 2021, CVC Capital Partners bought the Ahmedabad-based Indian Premier League cricket team, now known as Gujarat Titans, for a large sum of money.
In November 2021, CVC bought most of Unilever's tea business, Lipton Teas and Infusions. This deal was worth £4.5 billion. It included 34 tea brands, tea farms in three countries, and 11 factories.
In July 2022, CVC sold almost half of its share in TMF Group. Also in 2022, co-founder Steve Koltes stepped down from the firm. CVC had planned to offer its shares on the stock exchange in 2022. This is called an IPO (Initial Public Offering). However, they delayed it because of market problems and the conflict in Ukraine. The IPO was further delayed in 2023. Rob Lucas became the chief executive of the firm.
In December 2023, CVC bought a Japanese pharmacy company called Sogo Medical for $1.2 billion. In February 2024, CVC raised $6.8 billion for its sixth fund in Asia. This was their largest fund in that region so far. Donald Mackenzie, another co-founder, also stepped back from the firm in February 2024.
On April 26, 2024, CVC finally listed its shares on the Euronext Amsterdam stock exchange. The total offering was worth €2.3 billion. On July 3, 2024, CVC gained a 60% share of DIF Capital Partners. They plan to buy more shares of this company in the future. In November 2024, news reports suggested that CVC Capital Partners and other companies might try to buy ITV plc, a large media company.
Investment Funds
| Fund | Year | Region | Size (millions) |
| CVC European Equity Partners I | 1996 | Europe | $840 |
| CVC European Equity Partners II | 1998 | Europe | $3,333 |
| CVC Asia Fund I | 2000 | Asia | $750 |
| CVC European Equity Partners III | 2001 | Europe | $3,971 |
| CVC European Equity Partners IV | 2005 | Europe | €6,000 |
| CVC Capital Partners Asia Pacific II | 2005 | Asia | $1,975 |
| CVC European Equity Partners Tandem Fund | 2007 | Europe | €4,123 |
| CVC European Equity Partners V | 2008 | Europe | €10,750 |
| CVC Capital Partners Asia Pacific III | 2008 | Asia | $4,120 |
| CVC Capital Partners Asia IV | 2014 | Asia | $3,495 |
| CVC Capital Partners VI | 2014 | Global | €10,907 |
| CVC Growth Partners | 2015 | US & Europe | $1,000 |
| CVC Capital Partners VII | 2017 | Global | $18,000 |
| CVC Strategic Opportunities II | 2019 | Global | $4,600 |
| CVC Growth Partners II | 2019 | US & Europe | $1,600 |
| CVC Capital Partners Asia V | 2020 | Asia | $4,500 |
| CVC Capital Partners VIII | 2020 | US & Europe | €21,300 |
| CVC Capital Partners Asia VI | 2023 | Asia | $6,800 |
| CVC Capital Partners IX | 2023 | €26,000 |
Companies CVC Has Invested In
- Avast: A company that makes computer security software.
- Petco Holdings Inc.: A big store chain that sells pet supplies.
- RAC: A company that helps drivers when their cars break down in the UK.
- TMF Group: A company from the Netherlands that helps businesses with rules and paperwork.
- Gujarat Titans: A cricket team in the Indian Premier League.
See also
In Spanish: CVC Capital Partners para niños
